The Pennant Group, Inc. (NASDAQ:PNTG) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,261,564 shares of the company's stock after purchasing an additional 223,919 shares during the period. Vanguard Group Inc. owned about 6.58% of The Pennant Group worth $59,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of The Pennant Group in the 4th quarter valued at about $188,000. LPL Financial LLC acquired a new position in shares of The Pennant Group during the 4th quarter worth approximately $225,000. Arizona State Retirement System raised its stake in shares of The Pennant Group by 13.0% during the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after buying an additional 1,121 shares during the period. HighTower Advisors LLC purchased a new position in shares of The Pennant Group during the 3rd quarter valued at approximately $282,000. Finally, AlphaQuest LLC acquired a new stake in The Pennant Group in the 4th quarter valued at $291,000. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Trading Down 1.9 %

NASDAQ:PNTG traded down $0.51 on Thursday, hitting $25.69. The stock had a trading volume of 19,582 shares, compared to its average volume of 223,827. The company has a fifty day moving average price of $24.77 and a two-hundred day moving average price of $28.31. The stock has a market cap of $892.01 million, a price-to-earnings ratio of 37.75, a PEG ratio of 2.24 and a beta of 1.73. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The Pennant Group, Inc. has a 1-year low of $19.64 and a 1-year high of $37.13.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PNTG shares. Truist Financial dropped their target price on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. Stephens reiterated an "overweight" rating and issued a $38.00 price objective on shares of The Pennant Group in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company started coverage on The Pennant Group in a report on Thursday, December 19th. They set an "equal weight" rating and a $33.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, The Pennant Group has a consensus rating of "Moderate Buy" and a consensus target price of $34.80.

About The Pennant Group

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.